[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Re: Electronic cash illegal?

To: Derek Atkins <[email protected]>
Subject: Re: Electronic cash illegal?
From: Thomas Grant Edwards <[email protected]>
Date: Thu, 19 Jan 1995 18:24:06 -0500 (EST)
Cc: [email protected], [email protected], [email protected]
In-Reply-To: <[email protected]>
Sender: [email protected]

On Wed, 18 Jan 1995, Derek Atkins wrote:

> The US dollar is backed by trust alone, today.

Actually, the "backing" of a fiat currency is the need to have some 
around to pay your taxes, else you go to jail.  You are taxed on many 
types of income, even if they are not directly exchanged in the fiat 
currency.  Somehow you have to get some.

This also means that higher taxes can make the currency more desirable, 
lower taxes less, higher government spending less, lower government 
spending more, etc.

-Thomas

References:
- Re: Electronic cash illegal?
  - From: Derek Atkins <[email protected]>

Prev by Date: Status of GUCAPI
Next by Date: Re: The Remailer Crisis
Prev by thread: Re: Electronic cash illegal?
Next by thread: On DH public key crypto
Index(es):
- Date
- Thread